Digital transformation brings a data deluge that many legacy systems and infrastructure are struggling to deal with.
There is a wealth of opportunity with this data deluge, but it also brings a whole new set of challenges. Having this much information at disposal, many enterprises are engaging their skilled staff to spend more time, wrangling the data. Overwhelmed, most business processes today are static — and they render ineffective or irrelevant information and/or quickly become obsolete. To become truly data-centric, organizations must take a new approach to information integration and management.
Achieving A Holistic View Of Business
Historically, we have seen organizations collecting all types of data, and retaining it in the hope that it may help them in future. However, due to all this enterprises are facing a new challenge of integrating and extracting helpful insight to all the data. Considering industry stats we find that only 0.5% of data is ever analyzed, 3% of corporate data meets the basic quality standards, and nearly 60% of CIOs think their company cannot handle big data.
Data serves as a fuel to a digital enterprise system and a data-driven organization is 23 times more likely to acquire customers with six times more chances to retain customers, and 19 times as likely to be profitable. Not surprisingly, organizations are facing major increase in the
volume and variety of data they are supposed to handle.
From an Energy Crisis To T Data Crisis”
Have we moved from an energy crisis to data crisis? Research suggests that with the increase in the number of data sources, companies are struggling to connect and manage all of their data. It is found that 65% of companies had seen an increase in the number of different applications and interfaces they must manage. This led more than half of the companies to work with an increasing number of partners and suppliers to make sense of this complex data landscape.
Enterprises seeking digital transformation require a new approach
Digital transformation requires a major shift away from the traditional thinking around point- to-point data integration. Empirical evidence suggests that legacy systems and integration techniques can’t deliver the business agility or impact that today’s enterprise requires. With increasingly disparate and often incompatible systems and apps, data leaders need to implement a established digital business integration platform, capable of supporting any system of data integration scenario.
With so many components to enterprise data integration – including Application-to-application (A2A), business to business (B2B), the Internet of Things (IoT), file transfer and API management – a single cohesive strategy and integration infrastructure is essential.
Selecting proven digital business platform
It is preferred to have a cloud-based integration platform that provides speed, performance and scalability. Enterprises should select a proven vendor — one that has been there, done that — and one that will collaborate in executing the integration strategy.
Led by our proven integration Managed Services, BroadAxis’ digital business integration platform eliminates the cost and complexity of organizations’ in-house data integration services. Crucially, BroadAxis Business Network solutions take care of all data integration data management, so organizations can focus on growing their business.